Fed’s aggressive rate hikes start to crack economy

By Zach Halaschak

Published July 28, 2022 5:30pm ET

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Fed’s aggressive rate hikes start to crack economy — Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27, 2022. The Fed's rate hiking cycle has begun to cause the country's economic situation to decline as fears of a recession percolate. | (Manuel Balce Ceneta/AP)

The Federal Reserve‘s historic interest rate hikes are starting to ripple across the economy, which is now teetering on the brink of recession.

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Federal Reserve GDP Interest Rates Monetary Policy Recession